Ferrari FY24 Outlook: Revenue EUR 6.4B Vs. EUR 6.56B Estimate, Adj. EPS EUR 7.50 Vs. 7.77 Estimate
Portfolio Pulse from Benzinga Newsdesk
Ferrari has confirmed its FY24 outlook with expected revenue of EUR 6.4B, slightly below the EUR 6.56B estimate, and adjusted EPS of EUR 7.50, against a EUR 7.77 estimate. The guidance is based on positive product and country mix, strong personalizations, impacts from Formula 1 rankings, increased lifestyle activities, persistent cost inflation, continuous brand investments, and robust industrial free cash flow, offset by higher capital expenditures and tax payments.
May 07, 2024 | 10:50 am
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Ferrari's FY24 outlook indicates a slight miss on revenue and EPS estimates, with expectations set at EUR 6.4B and EUR 7.50 respectively. The guidance reflects a mix of positive drivers and challenges, including Formula 1 performance, lifestyle segment growth, and cost inflation.
The slight miss on revenue and EPS estimates for FY24 could lead to cautious investor sentiment in the short term. However, the positive aspects of the guidance, such as strong personalizations and lifestyle segment growth, alongside robust industrial free cash flow, could mitigate negative impacts. The mention of cost inflation and increased capital expenditures as offsets suggests a balanced view on profitability and cash generation capabilities.
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